New private investment plans slumped to a 20-year low in Q1

In an exceptionally slow start to private capital expenditure in this financial year, new investment plans in the country slumped to a 20-year low in the April-to-June quarter, with just ₹44,300 crore of fresh outlays announced by corporates.

The first quarter of 2023-24 recorded new investment announcements of nearly ₹7.9 lakh crore, while outlays worth ₹12.35 lakh crore were announced in the January-to-March quarter. In all, last year had seen investment announcements worth ₹27.1 lakh crore, the second highest in 10 years.

Old traditions, new ties

Prime Minister Narendra Modi's visit to Moscow reaffirms an old tradition of holding annual summits between Indian and Russian leaders. 

With Russia his first choice for a bilateral visit in his third tenure, he also breaks a tradition that Indian Prime Ministers travel to neighbouring countries on their first stand-alone visits in a tenure, indicating the importance of the India-Russia partnership. 

The 22nd India-Russia Annual Summit has another first - the first Modi-Putin meeting since the Ukraine - war. 

The 21st summit was in Delhi in December 2021, just before Russian President Vladimir Putin launched "special operations" on Ukraine. 

A law around low-carbon climate-resilient development

In a landmark judgment, the Supreme Court of India recently recognised a right to be "free from the adverse impacts of climate change" in M.K. Ranjitsinh and Others vs Union of India - sourcing it from the right to life and the right to equality.

Preparing India to reduce the risks of climate change and address its impacts requires nothing less than reorienting development toward low-carbon and climate-resilient futures. 

Any law that attempts to take this on must ensure these objectives are internalised in routine decision-making at all levels of development. 

Because climate change relentlessly targets the vulnerable, and because an energy transition must be just, it must be grounded in the imperative of advancing social justice. 

On expunction powers in Parliament

Rajya Sabha Chairman Jagdeep Dhankhar removed portions of Mallikarjun Kharge's speech, which was critical of Prime Minister Narendra Modi and the RSS. 

Meanwhile, in the Lower House, parts of Rahul Gandhi's remarks on the PM and the BJP were expunged from the records on the orders of Speaker Om Birla.

The Chairman and Speaker are vested with the power to order the expunction of remarks under Rule 261, and Rule 380 and 381 of the Rules of Procedure of the Rajya Sabha and Lok Sabha, respectively.

However, the relevance of the practice of expunging remarks has lately come into question, in a digital age where expunged content remains accessible due to the live telecast of proceedings and wider circulation of screenshots and videos on social media.

Red flags raised over runaway silver imports from UAE through GIFT City

In a major disruption for the bullion market, almost all of India's silver imports are now being handled by a few private players bringing the white metal from Dubai through the GIFT City exchange, which could cause significant revenue losses for the exchequer over time.

A trade research body has sought a probe into the relationships between export and import firms to identify and address any potential conflicts of interest, while warning that this silver market trend could extend to gold, platinum, and diamonds, further disrupting traditional import practices and market dynamics.

India's imports of gold and silver from the UAE had jumped 210% in 2023- 24 to $10.7 billion. Total silver imports stood at $5.4 billion. 

'Take nation into confidence on border situation at LAC'

Citing news reports of a Chinese military base being built near Pangong Tso, Congress president Mallikarjun Kharge attacked the Narendra Modi government demanding that the country be taken into confidence on the border situation with China.

Mr. Kharge shared a news report which said that the Chinese military had built bunkers to store weapons and fuel and hardened shelters for armoured vehicles in an area around Pangong Lake in eastern Ladakh. 

PM's visit to Moscow will see discussions on energy, trade

Prime Minister Narendra Modi will arrive in Russia to a particularly warm and special welcome at a private dinner hosted by Russian President Vladimir Putin at his Dacha, or estate, in the Moscow suburb of Novo-Ogaryovo. 

The two leaders are meeting for the first time since 2022. 

It is Mr. Modi's first visit to Russia since the war in Ukraine began and his own first visit abroad for bilateral talks after being reelected to office in June. 

The two leaders will be together for most of the events during the approximately 26-hour visit.

Trade imbalance, Indians in the Russian Army among key concerns for the diaspora

Tackling issues arising from the Ukraine war will be at the top of the agenda for many members of the Indian diaspora who will attend a community event that Prime Minister Narendra Modi will address during his Moscow visit.

These include trade and payment imbalances as well as the danger to Indians recruited by the Russian military serving at the frontlines. 

Among the more than 500 invitees to the event will be businessmen, students and doctors, who form a part of the roughly 14,000-strong diaspora that works here, as well as 25,000-30,000 Indians estimated to be studying in Russia.

Bail cannot be withheld as a form of punishment, says SC

The Supreme Court has held that the right to bail of an accused cannot be withheld as a punishment irrespective of the nature of the crime.

Refusal to grant bail is an unjust punishment leading to "prisonisation" of an accused, who is innocent until proven guilty, the apex court reminded.

"If the state or any prosecuting agency, including the court concerned, has no wherewithal to provide or protect the fundamental right of an accused to have a speedy trial as enshrined under Article 21 of the Constitution then the state or any other prosecuting agency should not oppose the plea for bail on the ground that the crime committed is serious.